The Cooperative Rating and Award Society of Nigeria has urged the federal and state governments to adopt a sustainable cooperative economy model to stop the dwindling of naira in the country.
The PUNCH had earlier reported that the naira was among the worst currencies in Africa, based on World Bank report.
Commenting on the matter, the President of CRASoN, Victor Oyegoke, said using the cooperative economy model would stabilise the naira.
He said, “The subsequent falling of the naira against the US dollar within the last four months, leading to it being listed among the worst currencies in Africa by the World Bank in their recent report shows that the (Bola) Tinubu-led administration needs to activate fully its economic reforms and sustainability plans especially as it relates to the fiscal policies which the newly appointed CBN Governor will push out to drive the economy within the next six to twelve month.
“The economy will take some time to stabilise from its current situations which are largely caused by the way the economy was managed by the (Muhammadu) Buhari-led administration within the last eight years with regard to external borrowings and government spending.”
Contact: [email protected]
